Friday 3 September 2010

David Friedman on macroeconomics

Friedman writes at his blog Ideas
Macro is not my field. One of the reasons it is not my field is that, so far as I can tell, it lacks a theoretical structure as solid or as well supported as price theory—popularly but misleadingly called "Micro." One result is that a course on the subject is a tour of either a cemetery or a construction site.
I wonder what his father would have said about such a view?

Macro is just witchcraft if you ask me. :-)

2 comments:

matt b said...

Macro is just witchcraft if you ask me. :-)

Why the smiley face?

Matt Nolan said...

"Macro is just witchcraft if you ask me. :-) "

How dare you. Now I need to go check out some chicken entrails to figure out how to respond ;-)